From what I've seen / heard, Diversis' legacy business was focused on finding distressed SaaS companies given their initial start as a fundless sponsor. With that being said, they've started moving upmarket with their recent fundraise as judged by some of their recent deals.

Could Primus fall into this category? I think they're not afraid to look at hairier opportunities.

 
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I don’t think it’s “turnaround” in the sense you’re looking for, but Constellation’s whole thing is effectively taking smaller software businesses, stripping out growth spending, and running them for cash. More of a capital allocation turnaround (stopping companies investing in low/negative ROIC projects)

2020 Update: recounting my experiences in PE and sharing thoughts on recent deals at https://leverup.substack.com
 

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